A survey of the world's most expensive shopping streets has shown that Grafton Street in Dublin is the fifth most expensive for rents in the world.

London-based research firm CWHB says rents on the street have increased by 46% in the last year. David Hutchings of CWHB told RTE radio Grafton Street had moved up from 18th ten years ago to its current high position, with an annual rent of €4,103 per square meter.

Fifth Avenue in New York topped the list, followed by Paris's Champs Elysees, Hong Kong's Causeway Bay, and London's Oxford Street.